What happens to my pets when I die?
You can leave it up to your Executor to determine what happens to them. But I suspect that, if you are looking for an answer to this question, letting someone else decide what happens to the four legged family members is not good enough for you. Fortunately, the Legislature also didn’t think leaving it up to your Executor was a good enough option thus, in 2006, Pennsylvania became the 32nd state to adopt a pet trust law. You can now create a trust to provide for the care and maintenance of your pets that were living at the time of your death. The trust terminates when the animal dies or, if you are providing for the care of more than one pet, at the death of the last surviving animal. Through this trust document you can set aside money for the specific purpose of caring for your pet. You can also direct where the pet is to live and appoint a successor caregiver as you would for a guardian of children or an alternate executor. Pet trusts are particularly useful when you have an animal with costly medical bills, or that requires some sort of special care. You also know your pet better than anyone and are the best person to determine who can care for it. Continue Reading Commonly Asked Estate Planning Questions – Day Three